Own Capital and Production


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OWN CAPITAL



  • What it means: Using your own savings or money to start your business.

  • Why it’s good: No need to borrow or pay interest.

  • Why it’s risky: You might lose your own money if the business fails.






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PRODUCTION OF GOODS & SERVICES


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1.

Goods

– Things you can touch and buy (e.g., bread, clothes).




2.

Services

– Things people do for you (e.g., haircut, taxi ride).




3.

Producer

– A person or business that makes goods or provides services.




4.

Subsistence Farming



  • What it is: Growing food mainly for your family, not to sell.

  • Example: A small garden farm for home use.




5.

Green Policy



  • What it is: Rules a business follows to protect the environment.

  • Examples: Recycling, saving electricity, using less plastic.